Blockchain
Blockchain

Can Blockchain Control Fake News?

Can Blockchain Control Fake News? | The idea to create a public, decentralized database, with the goal to limit manipulation and enhance trust in news materials.

  • By Eric Ervin, Co-founder & CEO of Blockforce Capital/Reality Shares

The New York Times is spearheading a proof of concept to create and publish meta-data, or a form of origination tags, on images and videos used in news stories to signal their authenticity. We are all aware of today’s cry of “fake news” predicated on extraordinary stories and accompanying photos. Subscribing to the old adage “believe none of what you hear and only half of what you see,” blockchain technology may now begin to allow a user to believe 100% of what they see.

The project attempts to attach these origination tags to photos and videos that travel on social media, digital news stories, messaging apps, and other electronic channels. The idea is to create a public, decentralized database containing these tags, with the goal to limit manipulation and enhance trust in news materials. Reality Shares believes misinformation through social news networks is a large issue, and therefore endorses the use of blockchain technology to drive news authentication.

The Reality Shares Nasdaq Blockchain Economy Index seeks to identify those innovative companies driving these novel projects. The New York Times currently has a Blockchain Score™ of 40, and the company is on our watchlist for future inclusion in the Index. Companies need to earn a Blockchain Score of at least 50 to be included in the Index.

The Reality Shares Nasdaq Blockchain Economy Index and Reality Shares Nasdaq Blockchain China Index are where companies involved in novel blockchain technology initiatives live.